Morningstar Wealth to Launch Public/Private Model Portfolios with Apollo, Franklin Templeton and J.P. Morgan Asset Management

The Canary Staked TRX ETF, trading on Nasdaq under the ticker TRXS, has launched as one of the first U.S.-listed exchange-traded funds designed to hold TRON's TRX token directly and pass through on-chain staking rewards, giving investors a way to gain single-asset crypto exposure inside a brokerage or IRA account without opening a crypto exchange account or managing self-custody. The fund's return engine combines TRX spot price appreciation with a staking reward stream earned by delegating a portion of holdings to validators on the TRON network, though that reward stream is reduced by the fund's expense ratio before reaching shareholders. With only 7 trading days of history and a settled close of $24.75 on September 17, 2026, TRXS is too young for a track record to matter, and the fund is positioned as a satellite holding sized at low single-digit weight at most within a diversified portfolio. Because the fund's operating fee is subtracted from staking rewards, TRXS will structurally deliver slightly less yield than buying and staking TRX directly, a tradeoff the fund offers in exchange for convenience and account eligibility. The fund also carries concentration and governance risk tied to TRON founder Justin Sun, whose active role in the network's development means the token faces headline risk that broader multi-asset crypto ETFs naturally dilute, and its tax treatment of pass-through staking distributions remains unsettled.